Chile colorado is a red chile sauce seasoned with a little cinnamon and Mexican oregano, and thinned with a little broth. There are many, many variations on this sauce, so use this recipe as a guide. One tip: Don't use overly hot dried chiles, or the stew will become inedible. If you want more heat, add it with hot sauce at the end. The sauce stores really well in the fridge, so if you make a big batch it will keep.
Serve chile colorado with tortillas, rice, some dry Mexican cheese like queso seco, cilantro and a lime.